The CSB Donor Advised Fund
The College of Saint Benedict is partnering with CommunityGiving and the Catholic Community Foundation of Minnesota (CCF) to offer the College of Saint Benedict Donor Advised Fund (DAF) — a convenient and tax-efficient way for you to support a CSB program or scholarship while also providing you with the flexibility to make gifts to other nonprofits close to your heart. You may already have a relationship with one of our partners or may choose depending on your geographic location.
How it works
- You make an irrevocable gift of cash, securities, or other property to CCF or CommunityGiving to establish the College of Saint Benedict Donor Advised Fund. The minimum initial gift varies depending on the partner organization.
- Your donor advised fund is invested in line with the investment policies and strategies of CCF or CommunityGiving.
- You may propose that distributions from the fund be made on your own giving timetable, to scholarships or program areas of the College of Saint Benedict or other charitable organizations.
- An annual distribution to Saint Ben's of a minimum of the President's Circle level (currently $1,500) should be recommended. In addition, at the conclusion of the DAF agreement, we suggest a minimum of 50 percent of fair market value of the principal should be distributed to Saint Ben's; the balance being available to other recommended charities.
- One-Stop Giving
- The College of Saint Benedict Donor Advised Fund provides a convenient, cost-effective opportunity for charitable giving, particularly the gifting of appreciated assets which would be difficult or inconvenient to split between your favorite charities. Give now — recommend charities later. And you receive just one concise receipt for income tax purposes.
- You or family members you designate have advisory privileges over the fund and may recommend distributions to support specific areas of the College of Saint Benedict and other qualified charitable organizations.
- You may claim a federal charitable income tax deduction in each year you contribute to your donor advised fund. There is no capital gains tax due on appreciated assets and the gifts may reduce your gross taxable estate.
- Build a Charitable Legacy
- The College of Saint Benedict Donor Advised Fund is a hassle-free alternative to the private family foundation. Use the DAF to create your own charitable endowment, which will annually support qualified charities during your life and after your death. In addition, your ability to recommend distributions to other qualified charities from this charitable endowment can be passed on to family members so that they too can share in the joy and excitement of participating in charitable giving.
How to get started
If you are interested in establishing a College of Saint Benedict Donor Advised fund, please use the CCF or CommunityGiving logo below to find out how to get started.
If you have questions about this opportunity, please contact Chad Marolf at Saint Ben's at 320-363-5402 or send an email to him at [email protected]csbsju.edu.